McGrath RentCorp (NASDAQ:MGRC) issued its quarterly earnings results on Tuesday. The financial services provider reported $0.69 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.57 by $0.12, Briefing.com reports. The company had revenue of $135.39 million for the quarter, compared to the consensus estimate of $124.90 million. McGrath RentCorp had a return on equity of 10.62% and a net margin of 9.74%. McGrath RentCorp’s revenue for the quarter was up 11.0% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.54 earnings per share.
McGrath RentCorp (MGRC) traded up 8.803% during trading on Wednesday, hitting $48.635. The stock had a trading volume of 27,357 shares. The stock’s 50 day moving average price is $43.99 and its 200 day moving average price is $37.88. The firm has a market cap of $1.17 billion, a P/E ratio of 27.807 and a beta of 0.97. McGrath RentCorp has a 12-month low of $29.99 and a 12-month high of $49.66.
The company also recently announced a quarterly dividend, which was paid on Tuesday, October 31st. Stockholders of record on Tuesday, October 17th were given a $0.26 dividend. The ex-dividend date was Monday, October 16th. This represents a $1.04 annualized dividend and a dividend yield of 2.33%. McGrath RentCorp’s dividend payout ratio (DPR) is presently 59.43%.
Several equities analysts have recently weighed in on MGRC shares. BidaskClub upgraded McGrath RentCorp from a “hold” rating to a “buy” rating in a research report on Saturday, August 5th. Zacks Investment Research upgraded McGrath RentCorp from a “hold” rating to a “buy” rating and set a $45.00 target price on the stock in a research report on Saturday, August 5th.
In related news, VP Keith E. Pratt sold 3,261 shares of the company’s stock in a transaction that occurred on Friday, August 4th. The stock was sold at an average price of $40.73, for a total value of $132,820.53. Following the sale, the vice president now owns 26,000 shares of the company’s stock, valued at approximately $1,058,980. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, VP John P. Skenesky sold 7,561 shares of the company’s stock in a transaction that occurred on Friday, August 11th. The shares were sold at an average price of $38.47, for a total value of $290,871.67. Following the completion of the sale, the vice president now directly owns 6,387 shares in the company, valued at approximately $245,707.89. The disclosure for this sale can be found here. Insiders have sold a total of 18,265 shares of company stock worth $719,958 in the last three months. Corporate insiders own 4.60% of the company’s stock.
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McGrath RentCorp Company Profile
McGrath RentCorp is a diversified business-to-business rental company. The Company operates through four business segments: modular building and portable storage segment (Mobile Modular); electronic test equipment segment (TRS-RenTelco); a subsidiary providing containment solutions for the storage of hazardous and non-hazardous liquids and solids segment (Adler Tanks), and a subsidiary classroom manufacturing business selling modular buildings used primarily as classrooms in California (Enviroplex).
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